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Is it August Already?!?

While my true passion is helping people create (and stick to) a plan for their finances, I am aware that there are many more aspects to money management than that. There are things that come up that budget fanatics like me plan WAY in advance for, but right now, that thing might be the proverbial "elephant in the room" for everybody else. So, I decided to start with some ideas about how to save money with whatever might be happening today.

I saw a Facebook meme last week that comically indicated how quickly we have come to this point in the year–back to school time. Many parents spend a lot on items their kids need and want to return to school, but they do not have to. There are some things you can do to save cash. In fact, you can take these steps ALL DURING THE YEAR to save money yourself. And when you are actively practicing these money-saving techniques for your needs and wants, it will be a natural thing for your child to accept them for their wants and needs, as well. After all, more is "caught than taught"–children learn through the example set by their parents.

1. Before beginning to shop, involve your child in a discussion about needs versus wants. And always include them in the budgeting process. They need to understand that money is finite, and they need to understand where it comes from (both discussions for another blog). Have them help you make a list, specifying which items are needs and which are wants. Lay out, in cash, ahead of time the amount of money you've budgeted for their back-to-school needs and take them with you when you shop. Throughout the shopping process, have them help keep track of what cash is left and what you still need to get. Let them actually pay for the items you've picked out together, and let them see how much is left before moving on. This gives kids ownership of their choices and they are more likely to be satisfied with what they have to start the new year.

2. See what school clothes and supplies you have left from last year that still works. Again, involve your child (see step one). It does not matter if it is clothes, notebooks, or pencils, many items from last year still have a lot of life left in them.

3. Check out second-hand stores, garage sales, and yard sales. Again, involve your child (see step one). Just take for granted that your child is an integral part of this process, and I'll get off my soapbox about it. Many times I score BRAND NEW items at Goodwill or the Saturday morning youth group fundraiser sale in the school parking lot. And you can pick these items up for pennies on the dollar, literally. They also usually have mountains of gently used items–you just need to be patient as you go through them.

4. Discount stores are becoming more and more popular. They buy pallets of overstocked or liquidated items from big box stores and sell them at half (or better) the cost of what you see in the large chain stores. Also, check dollar stores or office supply stores if you are short on the types of items they offer.

5. Online stores sometimes have killer sales and offer free shipping or free pickup at the store. There are many discount sites, Chrome add-ons, and coupon codes available for most online retailers. I always check to see if there is a valid code to save some cash when I shop online.

6. Don't be afraid to be a little plain. The 15-cent white paper folder holds paper just as well as the one with a Unicorn on it for $3.00. Let your kids take some ownership and dress up that plain white folder themselves with stickers, markers, paints, or whatever other craft supplies you have at home.

By following the suggestions listed, you can kill two birds with one stone. You are actively practicing smart budgeting techniques AND teaching your child some important money lessons. I do have one more suggestion for you. BE PATIENT with yourself. Like anything worth learning, budgeting takes time and effort. Together we will get there.


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